17 December 2015
What is the transaction limit of payment of expense in cash? Can we pay freight charge in cash exceeding Rs.35000/-, mostly "to pay", interstate purchases? Is there any exception to this provision.
18 December 2015
Cash transaction limit of expenses is Rs. 20,000/- for non transport and for transport expenses it is Rs. 35,000/- u/s 40A(3). For exceptions please refer Rule 6DD of IT Rules.
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